Tax payable amount and itc adjustment in portal

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This query is : Resolved

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This discussion clarifies how to calculate and adjust GST tax payable using the portal. It explains the process of setting off IGST, both opening balance and current month's credit, against CGST and SGST liabilities. The user is seeking guidance on how to correctly apply these adjustments to determine the final tax payable amount.

Ranjeet Singh

Ranjeet Singh (Querist)
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19 May 2024 Can any body tell me what is the tax payable in this situation I don't know how to set off on the portal tax payable cgst - 29795 sgst - 29795 igst - 0
Itc opening balance - igst 4223
Current month itc - igst - 24949 cgst - 3210 sgst - 3210 please tell me and solve it

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 May 2024 First total IGST opening and current month adjust 50% against cgst and 50% against SGST, then adjust current month cgst and SGST.
Pay the balance cgst and SGST.

Ranjeet Singh

Ranjeet Singh (Querist)
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19 May 2024 Can you explain what is tax payable

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 May 2024 Balance after deduction of ITC as explained above tax payable.
Can't you not work out.

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